Representatives of Israeli companies will visit factories in New Jersey belonging to pharmaceutical giant Pfizer (NYSE: PFE), where they will display their pharmaceutical and biotechnological capabilities. The Israeli companies hope to cooperate with Pfizer in investments in R&D and production.
The visit was arranged at a meeting between Minister of Industry, Trade, and Labor Ehud Olmert and Pfizer area president for Asia, Africa, Middle East and Latin America Mohand Sidi Said and general director Middle East Ozer Baysal.
At the meeting, Said told Olmert that Pfizer, which invests $8 billion a year in R&D, “believes that Israel has something to offer in this field.” He added, “In general, the Middle East is a promising region for the company, and Israel has the potential to occupy a respectable place in Pfizer’s array of pharmaceutical and biotechnological cooperation agreements with companies around the world.”
Olmert proposed holding an event at Pfizer’s factories in New Jersey, at which Israel companies would display technologies and products in the pharmaceutical and biotechnology fields to Pfizer and local US companies. The Ministry of Industry, Trade and Labor foreign trade administration will soon draw up a list of companies with potential for cooperating with Pfizer, and the companies will be invited to attend the event. Published by Globes [online] - www.globes.co.il - on March 15, 2004